In 2006, the corporation spent $6.6 million to improve its snow-making abilities, according to its website, with about 700,000 skiers visiting the resorts each season.

During the summer months, Snow Summit caters to mountain bikers and is installing a zip line. A golf course is located near the lodge at Bear Mountain.

"Confidentiality is a necessary part of this process, so, at least for now, Snow Summit management and directors will not be able to answer questions that go beyond what has been stated in this release," said corporation president Richard Kun in the release.